Abbott Laboratories (NYSE:ABT) Shares Acquired by Cerro Pacific Wealth Advisors LLC

Cerro Pacific Wealth Advisors LLC boosted its stake in Abbott Laboratories (NYSE:ABT) by 0.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,065 shares of the healthcare product maker’s stock after buying an additional 120 shares during the quarter. Cerro Pacific Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $2,288,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Groupama Asset Managment grew its position in shares of Abbott Laboratories by 22.2% in the third quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock valued at $26,000 after purchasing an additional 41,557 shares during the period. Future Financial Wealth Managment LLC purchased a new position in Abbott Laboratories in the 3rd quarter worth approximately $31,000. Peterson Financial Group Inc. purchased a new stake in Abbott Laboratories during the 3rd quarter worth $32,000. Valued Wealth Advisors LLC boosted its holdings in Abbott Laboratories by 78.4% in the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock valued at $33,000 after purchasing an additional 127 shares during the last quarter. Finally, Highline Wealth Partners LLC acquired a new stake in shares of Abbott Laboratories during the third quarter worth approximately $37,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 4.6 %

Abbott Laboratories stock opened at $123.17 on Friday. Abbott Laboratories has a 52 week low of $99.71 and a 52 week high of $123.23. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The stock has a market cap of $213.62 billion, a price-to-earnings ratio of 37.44, a PEG ratio of 2.50 and a beta of 0.73. The company’s 50-day moving average price is $114.91 and its two-hundred day moving average price is $113.08.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.34. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.99%. The firm had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11,029,400 billion. During the same period last year, the company posted $1.19 EPS. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. On average, analysts expect that Abbott Laboratories will post 4.67 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a dividend of $0.59 per share. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.92%. Abbott Laboratories’s dividend payout ratio (DPR) is 30.85%.

Analyst Ratings Changes

ABT has been the topic of several research reports. Royal Bank of Canada restated an “outperform” rating and set a $135.00 price objective on shares of Abbott Laboratories in a research note on Tuesday. UBS Group raised their price objective on Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday. Morgan Stanley boosted their target price on shares of Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Mizuho lifted their price target on shares of Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, Evercore ISI increased their price objective on shares of Abbott Laboratories to $136.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $132.50.

About Abbott Laboratories

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière’s disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.